Class B Shares definition
Examples of Class B Shares in a sentence
The shares of SPAC Class B Shares outstanding on the Closing Date shall automatically convert into shares of SPAC Class A Shares effective upon the SPAC Merger Effective Time in accordance with the provisions the SPAC Governing Documents.
As of the date hereof, there are 25,657,625 SPAC Class A Shares issued and outstanding, 10,814,432 SPAC Class B Shares issued and outstanding, and 25,657,625 SPAC Public Rights outstanding (each entitling the holder to receive one-fifth (1/5) of one SPAC Class A Share upon consummation of a business combination).
If required by the Managing Member, any certificate for Units and any certificate for Class B Shares (in each case, if certificated) surrendered to the Company hereunder shall be accompanied by instruments of transfer, in forms reasonably satisfactory to the Managing Member and the Transfer Agent, duly executed by the Redeeming Member or the Redeeming Member’s duly authorized representative.
Notwithstanding anything herein to the contrary, no Class B Shares may be Transferred unless a corresponding number of Units are Transferred therewith to the same Person receiving such Class B Shares in accordance with this Agreement.